The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged small and medium enterprises (SME) to avail of the export finance scheme (EFS) of the State Bank of Pakistan (SBP) to fulfil their financing needs and ultimately contribute to exports growth.
The call came on Monday from federation Vice President, Hameed Akhtar Chadda, who delivered a speech in a seminar on "export finance scheme and long-term financing facilities for SMEs", and "SME and SSGATE making a new concept of financing and technology transfer for SMEs of Pakistan". The federation and the Forman Christian College organised the seminar.
In his speech, he said, "The developing and developed countries have recognised the importance of small medium enterprises playing an important role in developing the national economy." A speech by the Vice President the South Asian Association for Regional Corporation's Chamber of Commerce and Industry, Iftikhar Ali Malik, underlined the need for training and capacity building activities for stakeholders.
"The socio-economic development is directly linked with the opening of economic avenues, and we can attract local as well as foreign investment by protecting these small medium enterprises in the country." Former regional federation chairman SM Naseer said, "The small medium enterprises are the starting point of development in the economies towards industrialisation as well as a significant effect on the income distribution, tax revenue and employment."
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